This is our USA Family Protection life insurance review, now Lumico life insurance company is the actual underwriter for usa family protection life insurance. That means if you get a final expense life insurance policy from usa family protection insurance it is actually coming from lumico.
In addition to this you have probably seen their TV commercials for final expense insurance. In this review we will go over their life insurance products, commercial, and other information regarding usa family protection life insurance reviews.
Table of contents
- USA Family Protection Life Insurance Products
- What is The Age Limit for USA Family Protection?
- USA Family Protection Life Insurance Commercial
- USA Family Protection Complaints
- Lumico Life Insurance is Their Carrier
- Lumico Life Insurance Plans
- Lumico Life Insurance Class Action Lawsuit
- USA Family Protection BBB Accredited
- Lumico is Not BBB Accredited
- USA Family Protection Contact Information
USA Family Protection Life Insurance Products
USA family protection insurance does more than just final expense plans. They offer the following products:
- Auto Insurance
- Home Insurance
- Life Insurance
Our main focus is going to be on their final expense products. As we mentioned before their life insurance is through the life insurance company lumico.
Life Insurance Agent Pro Tip: USA Family Protection is a legitimate company with a Better Business Bureau Accreditation from 2020. They have no complaints from their customers at this time they currently hold an A+ rating with the BBB.
What is The Age Limit for USA Family Protection?
The age limit for usa family protection life insurance is 50 to 85 for their lumico final expense policies. Most life insurance companies cover applicants up to age 85. It makes sense that lumico with usa family protection has an age limit of 85.
USA Family Protection Life Insurance Commercial
Their TV commercial sounds like a great deal at first glance. It advertises that you can get a $50,000 final expense policy for less than $1.00 a day. Now the problem is the fine print below this portion of the usa family protection commercial. If you stop it at the 0:50 mark you will see that the fine print says “RATES BASED UPON FEMALE AGE 50, PREFFERED NONSMOKING RISK CLASS $10,000 COVERAGE”.
This means you will not actually get $50,000 in coverage for less than $1.00 a day. The actual rate will be based on your age, health and lifestyle. Their advertising can be very confusing just like Colonial Penn’s $9.95 plan per month advertising.
USA Family Protection Complaints
USA Family Protection has 0 customer complaints on their BBB profile. Now Lumico their life insurance carrier does have customer complaints on their profile approximately 47 as of 5/4/2023. Remember the agency does not actually underwrite and issue the life insurance policy.
So the real issue is Lumico their life insurance company they are partnered with. Customers are simply not happy with Lumico’s life insurance in those complaints.
Lumico Life Insurance is Their Carrier
Now the actual company that issues usa family protections burial insurance is lumico. Lumico is not accredited with the Better Business Bureau. They have 47 customer complaints closed in the last 3 years and 12 complaints closed in the last 12 months.
In addition to this they currently sit at a 2.76 out of 5 stars for customer reviews. When it comes to burial insurance you want to be with a life insurance company that has better reviews than this period.
Lumico Life Insurance Plans
Lumico offers several different life insurance plans.
- Term life insurance
- Whole Life
- Final Expense
None of their products require medical exams you just answer their health questions during the application process.
- Coverage amount up to $1,000,000
- 10 – 30 year term length
- No Medical exam
We strongly advise against non med exam term life insurance because it is more expensive. Fully underwritten term life products with a med exam always guarantee the most affordable rates. This is because the life insurance carrier looks extensively at your medical and prescription history in addition to the med exam.
If you are in great health you will pass and have the lowest rate for term insurance available. Now a simplified issue term policy with no med exam will always be more expensive which is why if you are in good health you should consider other life insurance.
- Coverage amount up to $1,000,000
- Coverage lasts entire life
- Ages Eligible for Coverage 18 – 70
- Age 65 maximum coverage amount is $250,000
- Preferred Plan
- Standard Plan
- Modified Plan
- Provides between $5,000 – $30,000 in death benefit for ages 50 – 85
- Graded policy
- 4 year waiting period
- Death in Year 1 pays 25% of the death benefit
- Death in Year 2 pays 50% of the death benefit
- Death in Year 3 pays 75% of the coverage
- Death in Year 4 pays the full benefit
- Eligible ages 50 – 85
- Eligible ages 50 – 80
- Coverage amount $5,000 – $15,000
- Waiting Period
- Death in Year 1 pays 10% of policy benefit
- Death in Year 2 pays 25% of policy benefit
- Death in Year 3 pays 50% of policy benefit
Lumico Life Insurance Class Action Lawsuit
There is a class action lawsuit against Lumico life insurance and Assurance IQ. This lawsuit is for TCPA violation which does not look good on their part.
USA Family Protection BBB Accredited
Now USA family protection insurance services is accredited with the Better Business Bureau. They have been accredited since 9/8/2020 with 3 years in business. That being said considering everything going on with Lumico we believe you are better off looking for funeral insurance with other companies.
Lumico is Not BBB Accredited
As we mentioned earlier Lumico is not accredited with the Better Business Bureau. This is an issue considering how long they have been in business. Being accredited with the Better Business Bureau helps a company’s legitimacy.
USA Family Protection Contact Information
According to their Better Business Bureau profile and website their contact information is as follows:
- Website: https://www.usafamilyprotection.com/
- Phone Number: 513-314-0797
- Phone Number: 1-866-630-9191
- Address: 175 King St, Armonk, NY 10504-1606
In conclusion considering USA family protection’s commercial and lumico the company they are partnered with. We believe you can find much better final expense coverage options with us or another agency. Their graded policies with waiting periods are way too long to wait when you compare them to graded policies we offer. In addition to this we offer carriers with much more liberal underwriting.
That means you can be approved for competitive rates quickly with our companies. If you are extremely sick our guaranteed issue policies only have a 2 year waiting period for benefits.